NIDHI Company is the easiest quirk for to enter into financial market, we incorporate NIDHI Company in Shastrinagar in less than 15 days time. We also meet the expense of after combination return filing and 1 year clear consultancy service. We are the experts in concentration and submission of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legitimate aid to such company is not everyone’s cup of tea, but we took care of all your thing needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 gone the point toward of cultivating the craving of thrift and mass among members. This means that a NIDHI Company can take deposit and lend child maintenance to its members subject to Definite restriction as may be imposed on it from grow old to time.
IS NIDHI COMPANY REQUIRED TO APPLY FOR NBFC LICENSE OR ANY OTHER RBI REGISTRATIONS?
No, NIDHI Company is solely governed by the provisions of Companies Act, 2013 and Nidhi Rules, 2014 and RBI has interference in the in force of NIDHI Company.
RBI has vide Notification Clarified that NIDHI Companies i.e. a non-banking financial company -notified under section 620A of the Companies Act, 1956 (Act 1 of 1956), as NIDHI Company shall be exempt from the provisions of Chapter III B of the RBI Act, 1934.
RESTRICTIONS ON NIDHI COMPANY?
After Registration NIDHI Company must fulfill in the heavens of conditions in order to save working:
- Must increase 200 members within 1 year of its incorporation.
- Must lend money and accept deposit isolated to/from its members.
- Must not advertise very nearly its facilities in any freshen what therefore ever.
- Must not door office in other district and a maximum of 2 extra offices in the thesame state
WHAT KIND OF DEPOSITS A NIDHI CAN ACCEPT?
A NIDHI can take following type of deposits
- Fixed Deposit
- Recurring Deposit
- Saving Deposit
Rate of interest upon these deposits shall not exceed rate of raptness prescribed by RBI for NBFC companies.
A company shall maintain not less that 10% of the sum deposits in the form of unencumbered term deposit, in the form of Fixed Deposit at any Nationalized Bank or Post Office.
LOAN
A Nishi can lend grant in the form of press on only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of inclusion charged upon loan shall not in any dogfight exceed 7.5% of the highest rate of raptness provided by Nidhi upon Deposits.
Rate of Interest upon Loan shall be calculated by using reducing incorporation method.
MEMBERS
Conditions for membership of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least portion worth Rs.100/- of the NIDHI Company
- He must follow the terms and conditions as stipulated in his association agreement.
Documents/Information Required for Incorporating a NIDHI Company
Members (Minimum 7)
- A copy of PAN
- A copy of Voter ID or Driving License or Aadhar Card
- Up to date bank passbook or bank encouragement or utility story in the publicize of members
- 2 Passport size photograph
- Mobile Number and E mail Id
- For Registered Office
A copy of Electricity Bill or A copy of Gas credit and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends later than the word NIDHI LIMITED